In the latest episode of "The FreightCaviar Podcast", we sit down with Grace Maher and Jonathan McCormack of OTR Solutions. They shared their take on the current freight market, freight fraud, and talked about OTR's new platform for carriers.
AI agents are loud. Levity’s automation gets things done. Learn why freight ops need workflows, not hype.
Plus, Landstar delays Q1 earnings report due to massive fraud hit, witness tied to truck crash scheme murdered, UPS to cut 20K jobs amid Amazon pullback, and more.
ATRI report reveals a 6.6% increase in trucking operational costs during 2023 freight recession. Here's a breakdown of the numbers.
New research from ATRI shows costs are climbing quickly during this freight recession.
Rising Equipment Costs: Truck and trailer payments jumped up 8.8% to $0.360 per mile. With supply chain issues still lingering, don't expect prices to downshift anytime soon.
Driver Wages Accelerate: Paychecks grew by 7.6% to $0.779 per mile. Good news for drivers, but it's putting the squeeze on carriers.
Maintenance Costs Creep Up: Repair and maintenance expenses inched up 3.1% to $0.202 per mile. Every penny counts in this tight market.
Operational Headaches: Deadhead mileage hit 16.3% for non-tank operations, and driver turnover is on the rise.
Profits in the Slow Lane: With freight rates stuck in neutral, most fleets are seeing razor-thin margins. ATRI President Gregg Troian warns, "The current economic environment makes cost management essential to successful operations."
What's Next? If these trends continue, we might see smaller carriers merging or getting bought out. M&A activity is on the up and up.
Source: ATRI
Saia shares have had an incredibly challenging past week, dropping 33% after missing earnings, down $117 from its high at $354.15, now trading at $237.95.
Today we sat down with Karolina Plecha, a truck driver living in Norway. She shares insights on life on the road, the future of electric vehicles, and what she does to prepare for unpredictable weather conditions.
Is this trucker a criminal or just a hustler trying to stay in the game? It depends on how you look at it.
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
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